MarketsFarm — Canola futures posted sharp losses over the past week, with the May contract touching its weakest level in six months. While damage was done from a chart standpoint, there are technical signs that a recovery is possible. RSI The relative strength index (RSI) is a technical indicator that provides insight into whether a […] Read more
Reading between the lines: Oversold canola due for correction
Technical signs point to possible recovery
Feed weekly outlook: Corn the choice crop in feedlots
'Bigger feedlots are looking for volume'
MarketsFarm — Copious amounts of corn are still being delivered to feedlots in southern Alberta despite slowly declining prices for other feed grains. “Corn is coming down over the last little bit,” Mike Fleischhauer of Eagle Commodities Ltd. in Lethbridge said. “You think that there would be a little bit more barley hitting the market. […] Read more
U.S. grains: Chicago corn dampened by prediction of El Nino rain
Black Sea export deal hopes drag wheat to 18-month low
Chicago | Reuters — Chicago corn futures hit their lowest price since August on Thursday on expectations that the El Nino climate phenomenon could boost U.S. crops and concerns about rising interest rates. La Nina has ended, the National Weather Service’s Climate Prediction Center said on Thursday, and El Niño could possibly form during summer […] Read more
U.S. livestock: CME feeder cattle pull back
CME lean hogs end day mixed
Chicago | Reuters — Feeder cattle futures on the Chicago Mercantile Exchange on Thursday ended lower on Thursday as the front-month contract pulled back from its highest prices in nearly 7-1/2 years. Traders took some profits after futures rallied recently on falling corn prices, brokers said, adding that continued declines in the corn market could […] Read more
Building bridges to Indigenous communities
Western Canadian society has a wall running straight down its middle, dividing the world into Indigenous and non-Indigenous spheres. Breaking that wall down is in everyone’s interest, according to Kendal Netmaker. The Saskatoon-based Indigenous entrepreneur, author and consultant told the Canadian Crops Convention his priority is removing that wall. “We need to knock it down […] Read more
Canola industry ready to move forward
The Canola Council of Canada celebrated a return to normalcy at its annual meeting at the Canadian Crops Convention in Ottawa. “Our theme this year is ‘from adversity to opportunity’ and I think that’s very fitting,” said Jim Everson, the group’s president. Production has rebounded following the drought of 2021, meaning there’s opportunity to develop […] Read more
Adama’s lambda-cy products to be available this year
Company to continue selling Silencer, Zivata after recall
The Canadian arm of ag chem firm Adama says it’s relabelled its inventories of lambda-cyhalothrin insecticide products Silencer and Zivata and will have them available for sale to farmers in 2023. The company had said last November it wasn’t yet sure those products would be available this year under an approaching deadline following a 2021 […] Read more
USDA sees increased EU canola imports, no extra from Canada
U.S. also projects higher Canadian ending stocks
MarketsFarm — The European Union will likely import more canola (rapeseed) this year than earlier thought, but any increased movement should come from Australia or Ukraine rather than Canada, according to updated projections from the U.S. Department of Agriculture. USDA raised its forecast for European rapeseed imports during the 2022-23 marketing year by 550,000 tonnes, […] Read more
CBOT weekly outlook: Argentina estimates lowered, but attention soon shifting north
U.S. corn, soyoil export outlooks 'a little concerning'
MarketsFarm — Sizeable reductions to Argentina’s soybean and corn crops were confirmed in the latest supply/demand estimates (WASDE) from the U.S. Department of Agriculture, with more reductions likely in future reports. However, attention in the markets is starting to shift to North American weather, with spring seeding just around the corner. “The USDA was a […] Read more
ICE weekly outlook: Upswings likely out of question for canola
Canada's exports expected to ebb
MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
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